Kickboxer: Retaliation.
Well that was f**king awesome. The final fight against Hapthor Bjornson was one of the best I've seen - it was hard core, original, bone crunching stuff.
Though to be fair, a movie featuring Jean Claude Van Damme, Christopher Lambert, Mike Tyson AND Rhonaldinio (I shit you not) would have to try really hard to fail.
The first movie was really good too... sneer if you like, but "Kickboxer" is really good example of how to reboot a franchise - paying dues to the much-loved classic but doing its own thing too.